Sunday, April 18, 2021

“Trade” will decide the fate of exporting packaging paper abroad within days

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Started Ministry of Commerce and Industry In studying the application submitted by the Packaging Division of the Federation of Industries about the crisis of exporting the packaging paper inside the carton industry.

Government sources told “the Stock Exchange” that a comprehensive study is being prepared on the volume of domestic consumption of packaging paper and the quantities produced, in addition to determining the percentages of local companies’ exports to abroad.

The sources added that this matter will be resolved within days, and the possibility of imposing export duties or stopping the export of packaging paper is being discussed.

In a related context, Ahmed Gaber, head of the Printing and Packaging Chamber of the Federation of Egyptian Industries, said that the prices of packaging paper rose from about $ 500 to about $ 960 per ton within 6 months, in light of the increase in demand and the shortage of global supply.

He added to the “stock market” that the price increase prompted about 4 large factories in Egypt that account for a large proportion of the market size, to increase the volume of exports, which had a significant impact on the shortage of packaging paper in the local market.

He explained that the exports of the past January and February of packaging paper equaled exports for the whole of 2019 and more than last year 2020.

The Chamber of Printing and Packaging submitted an official memorandum to the Ministry of Trade and Industry last week. To demand a moratorium on the export of packaging paper for a period of 6 months, or to impose an export duty of at least $ 300 per ton.

“Jaber” said that the production capacity of wrapping paper before the crisis of its shortage used to cover about 80% of the factories’ consumption and import about 20%, but now the local production covers 40% and there is a deficit of 60%.

He pointed out that most of the packaging paper factories in Egypt were affected by the increase in the volume of exports during the past period. Due to its shortage of dash paper, which caused its shortage and high price as well.

وشنرت «stock market», That the Industrial Investors Association addressed the Ministry of Trade and Industry; To demand an end to the export of paper and dishwashers used in the cardboard industry, in light of the high prices for some industrial sectors, such as ceramics and food industries.

Mohamed Shokry, vice president of the Chamber of Food Industries, said at the time that the chamber had received complaints from companies about the rise in the prices of packaging materials by about 35% during the past two weeks, which threatens to raise the prices of the sector’s products if those prices are stable.

The article “Trade” decided the fate of exporting packaging paper abroad within days. It was written in the Al-Borsa newspaper.

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